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Here's Why Barrick Gold (GOLD) Fell More Than Broader Market
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The most recent trading session ended with Barrick Gold (GOLD - Free Report) standing at $15.76, reflecting a -1.38% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.35%, while the tech-heavy Nasdaq lost 0.3%.
Shares of the gold and copper mining company witnessed a gain of 13.66% over the previous month, beating the performance of the Basic Materials sector with its gain of 9.01% and the S&P 500's gain of 4.42%.
Analysts and investors alike will be keeping a close eye on the performance of Barrick Gold in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.19, signifying a 35.71% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.93 billion, up 10.94% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.90 per share and a revenue of $12.37 billion, indicating changes of +7.14% and +8.51%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 12.62% lower within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 17.76. This denotes a discount relative to the industry's average Forward P/E of 19.06.
Investors should also note that GOLD has a PEG ratio of 1.25 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 1.85.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why Barrick Gold (GOLD) Fell More Than Broader Market
The most recent trading session ended with Barrick Gold (GOLD - Free Report) standing at $15.76, reflecting a -1.38% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.35%, while the tech-heavy Nasdaq lost 0.3%.
Shares of the gold and copper mining company witnessed a gain of 13.66% over the previous month, beating the performance of the Basic Materials sector with its gain of 9.01% and the S&P 500's gain of 4.42%.
Analysts and investors alike will be keeping a close eye on the performance of Barrick Gold in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.19, signifying a 35.71% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.93 billion, up 10.94% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.90 per share and a revenue of $12.37 billion, indicating changes of +7.14% and +8.51%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Barrick Gold. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 12.62% lower within the past month. Barrick Gold is currently a Zacks Rank #3 (Hold).
Digging into valuation, Barrick Gold currently has a Forward P/E ratio of 17.76. This denotes a discount relative to the industry's average Forward P/E of 19.06.
Investors should also note that GOLD has a PEG ratio of 1.25 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 1.85.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 43% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.